Singapore Exchange (SGX) has announced the addition of Orient Futures International (Singapore) Pte. Ltd. as a Trading and Clearing Member of its derivatives market. Owned by Orient Securities, a constituent of the SSE 50 Index, The new member is spearheading Orient Futures’ internationalization initiatives to provide brokerage services to a suite of capital markets products. SGX’s derivatives market now has 65 Trading Members and 26 Clearing Members.
Chew Sutat, Head of Global Sales and Origination at SGX, said: “We are pleased to welcome Orient Futures International as a derivatives Trading and Clearing Member. Through their presence in Singapore and a strong footprint across greater China, we are excited to work with them in broadening the offerings available to their clients. Their membership affirms the growing importance of Asian derivatives among investors and underscores SGX’s role as the leading center for Asian risk-management.”
Marcus Goi, Chief Executive Officer of Orient Futures International, commented: “We are excited to join the SGX family as a direct Derivatives Trading and Clearing member. Orient Futures International is committed to providing clients with a seamless, accurate and automated digital user experience for pre- and post-trading services. This membership also marks a significant milestone for the Orient Group’s internationalization strategy and we look forward to working closely with SGX and use its diversified products to achieve scale and efficiency in established markets, as part of our aim to be the ‘Broker of Future’.”
Last year. SGX started using Nasdaq’s financial framework product – Multi Matching Trading Engine. The new trading engine helps SGX unify its operations, messaging and data infrastructure allowing the exchange to scale up its product offerings. SGX is now capable of adding more securities and other major assets commonly traded in the market thereby increasing its capacity for the maximum number of assets it can handle simultaneously.
Singapore has been developing as a major global hub for FX and liquidity in the Asian market for quite some time. It has also been working together with the Monetary Authority of Singapore towards developing Singapore’s market into a global FX price discovery and liquidity center in the South Asian region.
The Chief Executive Officer (CEO) of one of Asia’s biggest exchanges SGX said Loh Boon Chye, the CEO of SGX, has recently said Singapore’s government deserves credit for its thriving financial services industry.
“I give a lot to our government. I think it’s a government that promotes a very efficient business environment. It is also a country that is well connected, whether by earnings or even by free trade agreements, and also one of the few AAA countries left, and the only in Asia,” Chye said.
He also stated “70% of returns are driven by proper country selection and not so much in terms of asset class allocation. If you want to be in the marketplace for Asian financial products, then you need to provide a platform that offers multiple asset products. We expect a path of growth, but the mix of the revenues will be different in five years’ time. Broadly speaking, FICC and data connectivity indexes are about, call it 30% roughly. I think that will grow and equities will also grow in absolute revenue contribution.”
